Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP® Joel Ohman

UPDATED: Oct 14, 2021

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Progressive insurance is a powerhouse when it comes to insurance advertising. They sell home, auto, and many other policies at affordable prices. Progressive is sold through independent insurance agents and online. Progressive reaches out to potential customers where they are whether they prefer to do everything from their computer or if they’re looking for a professional to answer their insurance questions before they decide.

Their newest line of television commercials focus on their “bundling” program, i.e. purchasing home and auto insurance together with Progressive. A bundle discount applies to both policies. But it’s not a combined policy. So, for example, if you get into a car accident, your auto premium could rise while your homeowners premium remains the same.

When you bundle your home and auto insurance with Progressive, you save money by qualifying for a “multi policy” discount. But you still have the option to get a quote for a different policy when needed.

Everything is pretty cut and dry up to that point and not too earth shattering, as many insurers offer a similar discount as a way to capture more insurance per household.

Being that it’s TTAI’s business to review the many available insurance products out there, we thought we’d give this one a shot, but ran into a snag.

You see, Progressive does not “write” homeowners insurance. They just “sell” it.

Progressive acts as an insurance agent by soliciting insurance business, and then forwards that piece of business to an insurance company that collects the insurance premium dollars and pays any covered insurance claims.

On their website, you’ll see something to the effect of property insurance being provided and serviced by a trusted, third party.

What is Progressive Home Advantage?

Here’s the disclaimer from their website, which we’ve printed in letters big enough to read:

*”Insurance policies purchased through the Progressive Home Advantage program are underwritten by leading providers of homeowners, renters and condominium insurance, including Homesite Insurance Group and IDS Property Casualty Insurance Company, depending on your state.

These companies are valued business associates that are not affiliated with Progressive, and are solely responsible for claims under insurance policies issued by them. Certain Progressive companies may be compensated as licensed agencies for performing services on behalf of these underwriting companies.”

ASI Lloyds was also added to that list at some point. In total, there are nearly a dozen companies that make up Progressive Home Advantage. This means that while Progressive offers its name, you could get a wide range of optional coverages and rates from smaller providers. So your experience could vary widely with Progressive Home Advantage. The good news is Progressive is still willing to offer Progressive resources and discounts to combine this with your car insurance.

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Should you use Progressive home insurance?

Why not? Insurance is, for the most part, somewhat of a “commodity” and certainly a “marketing” business. This homeowners insurance is really Progressive in name only, but that doesn’t mean you won’t get exactly what you need from it.

While there is a lot to be said for customer service and financial stability, no carrier out there can get away with too much poor service or operate with a bad balance sheet due to the high level of regulation in the insurance industry…no matter what those television commercials try to tell you. With smaller underwriting companies behind it, you might get a more personalized plan that makes sense for your needs at an affordable average cost.

Progressive insures millions of people in the United States. What better way to solicit another “line” of insurance, homeowners in this instance, than to go after an existing client base.

It only makes sense to partner with a homeowners insurance company. Progressive gets to offer a discount and may get a cut of the profits from that line of insurance. No harm, no foul.

This is similar to Costco Home Insurance, which is resold by a third-party company to its shoppers who are probably more interested in buying food in bulk.

Does it really matter?

In short, no, not a bit. At the end of the day, if you obtain Progressive auto insurance and purchase homeowners insurance through one of their partner companies and it saves you money, you win. Progressive Home Insurance is comparable to many other homeowners policies. The big questions is where you’ll get the most competitive rates. You can determine this by getting quotes on the auto policy and homeowners insurance policies you want with any additional coverage you’re looking for as well.

But to be certain you receive the best deal, speak with a local independent insurance agent who can shop your premium with several different companies at once, not just those already doing business together.

There could be a better deal out there, and you may never know about it if you let them do the shopping for you.